A label code is a unique five-digit number (e.g. LC 02483) that enables the identification of your tracks through your label in Germany. The label code allows the collecting societies to know exactly when your track was played on the radio or on TV for example and to remunerate accurately.
However, the use of label codes is becoming obsolete. Nowadays, your tracks are identified with the International Standard Recording Code (ISRC).
With the ISRC instead of the label code, your tracks can be played on the radio just as easily, royalties guaranteed.
Regarding the digital distribution of your tracks the ISRC is most important.
If you still want to get a label code, you can apply for it as a GVL member directly through the GVL (Gesellschaft zur Verwertung von Leistungsschutzrechten).
MusicHub does not issue label codes, as this is a main activity of the GVL. If you are looking for a label code for MPN, this article explains (in German) how to use it without a label code.
FYI: For a physical release you need a EAN/IAN/UPC (European/International Article Number, also called Universal Product Code), which is used in retail to identify your VINYLS, CDs or DVDs.